March 4, 2025
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37:45Now PlayingPresident Donald Trump's 25% tariffs on Mexican and Canadian imports, along with an additional 10% tax on Chinese goods, bringing the total tariff to 20%, took effect Tuesday, triggering a trade war between the U.S. and its three largest trading partners that will raise prices for American consumers.
In the hours after implementation of the new levies, leaders from Mexico, Canada, and China all vowed to take retaliatory action. U.S. stocks seemed to respond, opening lower for the second day in a row, with the Dow, S&P 500, and Nasdaq all tumbling almost 1.5%. Tariff-sensitive stocks including automakers, retailers, and homebuilders all contributed to the declines after the S&P 500 experienced its worst day of 2025 following Trump's confirmation Monday that the tariffs would go into effec
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